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A short time ago I took on the management of a project with an investor I recently started working with. Although I didn’t quite get to do everything that I would have liked to do in the unit the investor did put a lot of faith in me and went with a lot of the suggestions I had for the rehab of the property. As a result we have what has turned out to be a completely gorgeous rental property that I can’t wait for a new tenant to enjoy. Just because someone is renting a home doesn’t mean they don’t also want something that they can be proud to call home (and they are usually willing to pay a premium for it). A lot of investors think that the best way to invest in real estate is to do everything the cheapest way possible and that isn’t necessarily true.

In this case, the house was a complete rehab and although it did need EVERYTHING that doesn’t mean we had to buy the most expensive materials to make it look at nice as it did. You can make a home gorgeous with just a few upgraded items and give it the feel of being much more expensive. But you have to know where to spend that extra money and where to hold back. For example I buy all of plumbing fixtures and door knobs on ebay. Perhaps if this was a primary residence someone might buy the “name brand” door knobs but for a project like this you can save over 50% on door knobs by buying off brand online. So quickly you can get that expensive look without paying the hefty prices.

It is also important to make sure ALL of your colors and materials are well thought out in advance to make sure that they work together and provide the home with the proper feng shui feel. Rehabbing a rental property is very  different from rehabbing a property that will be your primary residence because you have to taken into account every dollar that you spend and make sure that you do the cost/benefit analysis to make sure that you are putting the money in all of the right places.

I am proud of this one and excited to start the next 🙂 Here are the before and after pictures from my latest “From Rehab to Rental” project:

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